How can I convince a relative to not go further into credit card debt ($5k currently) in order to purchase an iPhone 6?
I realize that I can't just say, "Stop being a financial idiot. Stop living beyond your means."
How to make saving $$ and not having credit card debt "cool"?
I was thinking about offering: An early $200 christmas present to be spent $150 on debt reduction and $50 on whatever
1) If she promises to stay with her current phone for 2 more years:
2) She read any 2 of these 3 books below (that I purchase)
3) She looks at the videos on http://www.ifa.com/videos/
in order to realize that if she starts now, she can really truly, passively accumulate wealth via low cost index funds. Without risking losing everything / hanging yourself with your own rope on e-trade as another relative has done. I think she feels being wealthy is something that only "other" people can accomplish.
4) We discuss key points from each chapter and videos once a week
The Money Book for the Young, Fabulous & Broke
(should be required reading for high schoolers and hip 20-somethings)
by Suze Orman
http://www.amazon.com/Money-Book-Young-Fabulous-Broke-ebook/dp/B000PC71Q4/ref=cm_cr_pr_product_top
I listen to Suze Orman's CNN show each week. It helps me to be more mindful with spending and make every major spending decision based on the Suze Orman "Can you afford it?" test.
Your Money or Your Life
by Vicki Robin, Joe Dominguez, Monique Tilford
http://www.amazon.com/Your-Money-Life-Transforming-Relationship-ebook/dp/B0052MD8VO/ref=cm_cr_pr_product_top
The Wealth Cure: Putting Money in Its Place
by Hill Harper, the CSI New York actor
http://www.amazon.com/The-Wealth-Cure-Putting-Money-ebook/dp/B0052RHF0E/ref=cm_cr_pr_product_top
I realize that I can't just say, "Stop being a financial idiot. Stop living beyond your means."
How to make saving $$ and not having credit card debt "cool"?
I was thinking about offering: An early $200 christmas present to be spent $150 on debt reduction and $50 on whatever
1) If she promises to stay with her current phone for 2 more years:
2) She read any 2 of these 3 books below (that I purchase)
3) She looks at the videos on http://www.ifa.com/videos/
in order to realize that if she starts now, she can really truly, passively accumulate wealth via low cost index funds. Without risking losing everything / hanging yourself with your own rope on e-trade as another relative has done. I think she feels being wealthy is something that only "other" people can accomplish.
4) We discuss key points from each chapter and videos once a week
The Money Book for the Young, Fabulous & Broke
(should be required reading for high schoolers and hip 20-somethings)
by Suze Orman
http://www.amazon.com/Money-Book-Young-Fabulous-Broke-ebook/dp/B000PC71Q4/ref=cm_cr_pr_product_top
I listen to Suze Orman's CNN show each week. It helps me to be more mindful with spending and make every major spending decision based on the Suze Orman "Can you afford it?" test.
Your Money or Your Life
by Vicki Robin, Joe Dominguez, Monique Tilford
http://www.amazon.com/Your-Money-Life-Transforming-Relationship-ebook/dp/B0052MD8VO/ref=cm_cr_pr_product_top
The Wealth Cure: Putting Money in Its Place
by Hill Harper, the CSI New York actor
http://www.amazon.com/The-Wealth-Cure-Putting-Money-ebook/dp/B0052RHF0E/ref=cm_cr_pr_product_top